Does your company want to become a leader in terms of gender equality in the workplace? Stand out from the competition and comply with legal requirements, while generating a positive impact on your environment? Here we share the first steps to get started.
When generating a cultural change or defining equality as a strategic objective, it is important to start by sharing and understanding the business arguments in favor of equality, or that justify this work at a strategic level. If we understand this reality, working on equality goes from being an obligation to a real motivation.
Recent research and studies indicate that equality in organizational management and management teams can lead to better business results in terms of productivity, innovation, competitiveness, and talent attraction and loyalty. As?
Higher income and improved productivity
It is proven that companies that promote equality and have women in management positions generate more profits. According to the ILO study The Business Case for Change , companies that work on equality in management positions obtain an increase in profits between 5 and 20%, as well as a better reputation and external image.
Equality in management positions increases business profits between 5% and 20%
But not only this, but a culture that promotes equality also influences the market valuation of companies. In this sense, surveys carried out with shareholders indicate that they want to invest in companies with boards of directors and managers with gender diversity.
Improved innovation and competitiveness
Creating a culture of equality is a powerful multiplier for innovation and growth. Numerous research has shown that diverse teams can develop solutions and products that are more suited to the needs of their users and customers, and more competitive. When people from different backgrounds work together, their unique perspectives often lead to greater creativity. In this sense, women bring different perspectives, and that diversity in experiences and visions makes us create better products and solutions.
According to an Accenture study , innovation is seven times greater in organizations that have a strong egalitarian culture, where all people can advance and prosper, than in those that do not.
Greater chances of attracting talent
Companies around the world are struggling to recruit and retain talent, and in some sectors, there is a shortage of female talent that HR teams are constantly trying to address. But what if the solution was to work on equality and inclusion within the company itself?
McKinsey's Diversity, Equity and Inclusion study shows that diverse organizations that foster equality are 47% more likely to attract and retain talent than those that do not.
Today it is a reality that talent looks for companies that promote equality and diversity. A survey by the employment website Glassdor found that 67% of job seekers look at the diversity of the workforce when evaluating an offer. Additionally, 61% of women look at the gender diversity of the company's management team when deciding where to work.
In short: investing in women means investing in the company . Establishing business practices that allow women to participate on an equal footing can help generate economic growth in all areas, and also contribute to closing different gender gaps, achieving equal pay, equal representation and equal opportunities for all people. .
Organizations must change their operating cultures and leaders must make clear that training and inclusion of women is key to the company's business strategy. And for this, the first step is to understand why .
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